San Mateo-based unitQ Secures USD 11 Million in Series A Round of Financing

By StartUp City | Friday, March 06, 2020

The company was founded by Christian Wiklund, David Eklov, and Niklas Lindstrom in response to the lack of customer-informed bug prioritization platforms while building their previous company, Skout.

FREMONT, CA: Real-time product quality solution provider unitQ raised USD 11 million in a Series A round of financing led by Gradient Ventures, Google's AI-focused venture fund, with participation from Creandum, XSeed Capital, Bragiel Brothers, and BootstrapLabs. As part of the deal, Anna Patterson, Managing Partner at Gradient Ventures, will join the unitQ board of directors soon. The funds from the new capital will be used to hire, invest in new and existing product development, and bring unitQ Monitor to a broader market as it launches out of beta.

"We're thrilled to partner with the team at Gradient Ventures in our mission to help companies monitor and improve product quality. The positive feedback that we've already received from our customers shows that unitQ directly increases retention of their users and provides a powerful edge against the competition," said Christian Wiklund, CEO, and co-founder of unitQ.

 The company was founded by Christian Wiklund, David Eklov, and Niklas Lindstrom in response to the lack of customer-informed bug prioritization platforms while building their previous company, Skout. In 2016, Skout was sold to The Meet Group, which led to their understanding that the product quality was the single biggest lever to user growth and retention.

"When an engineering team develops a product, understanding which bugs to prioritize is one of the hardest challenges," said Anna Patterson, Gradient Ventures Managing Partner and Google VP of Engineering, who worked on Search pre and post-Google's famed 2004 IPO. "unitQ aggregates real-time user data to do this, and also ranks bugs by their impact on customer satisfaction and business impact. This is a big leap for product development teams and the tech industry at large because it turns product quality into a science."

Today, unitQ provides real-time solutions to stay on top of product quality across all platforms, languages, and regions. Over the years, the company has become an expert in hyper-tuning conversion cycles after being forced to multiple platforms, languages, and pressure. "We realized that unitQ can turn our existing customer base into an extended quality team," said Greg Burch, VP Engineering at Styleseat. "Before unitQ, our product improvement prioritization started with a long meeting and many opinions. Now we look at unitQ Monitor and immediately start doing what we're good at, building a great product."

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